Including the non-cash charge of $2.6 mln, they're still short of targeted $366 mln revenue.

As for the eps, let's just be honest and treat the pending lawsuit as a real threat.

What was really bad? The targeted growth rate was 15.1% for 2007, but the reported actual growth rate was 13.8%.

Compare to CPO, the growth rate is way higher, over 26%.

CPO is trading at 15x 2007 EPS, and 14x est eps for 2008.

Using CPO's valuation, which would still inflate PENX stock price, PENX fair value is no more than $24.

That's right, this stock should be no more than $24.

As for the guidance from CC, they really tried to stretch with the ethanol production in late 2008. Funny thing tho, they won't have a definite schedule to switch on the production - even tho it's really a money losing business in 2008 to say the least - until, guess what, some legal matters settled first. They don't want to disclose their "secret" ethanol fermentation method, thus, no ethanol production yet. That means, they're holding up big cash investment/expenses indefinitely, without return from the debt.

That's really encouraging!

This stock is going down from here.

But first, let's see that fund manager to fake the jackup again. Or maybe not! They're already in deep red here.

Wait until it breaks $24, panic will strike.